ARK Invest and 21Shares to Launch New Digital Asset ETF Suite

November 09, 2023

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Cathie Wood’s ARK Invest is entering a new partnership with 21Shares to launch a new suite of digital assets ETFs.

With this new set of offerings, the investment manager is looking to offer investors a robust set of options for introducing exposure to digital assets into a portfolio. Based on the laid out plans, a total of five products will begin trading by next week.

Furthermore, the prospectuses highlighted that the digital asset ETFs will be listed on the Chicago Board Options Exchange which is largely known as Cboe.

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ARK Invest 21Shares Digital Asset ETF Suite Goes Live in 5 Days

According to 21Shares, one of the ETF Products will be invested in a mix of public equities of companies engaged in the blockchain industry. This would be neither Bitcoin futures nor Ethereum futures contracts. A countdown clock on the 21Shares website confirms that the ARK 21Shares digital asset ETF suite will be launched in the next five days.

“Leveraging onchain signals and our crypto-native experience, the suite aims to deliver long-term capital appreciation through strategic investments in Bitcoin and Ethereum futures contracts, and the application of blockchain technologies,” per a statement on 21Shares’ website.

Financial Sector Awaits Spot Bitcoin ETF Approval

Notably, this comes as the entire crypto industry as well as the traditional financial sector waits on the United States Securities and Exchange Commission (SEC) for its decision on the twelve spot Bitcoin ETF applications that were filed by BlackRock, Invesco, Valkyrie, VanEck, Grayscale WisdomTree and even ARK 21Shares. It is worth noting that the regulator has not approved any spot Bitcoin ETFs before now.

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As expectations keep building around the potential BTC ETF approval, the price of the flagship cryptocurrency is responding positively. At press time, BTC was trading at $36,747.12 with a 4.21% increase within the last 24 hours.

DTCC Listings For Invesco and BlackRock Bitcoin ETFs

Meanwhile, Invesco and Galaxy have gone ahead to list their joint Bitcoin ETF on the Depository Trust and Clearing Corporation’s (DTCC) website under the ticker BTCO. While it does not mean an impending approval, it marks a step forward in their application for the spot BTC ETF listing from the SEC. It also follows an earlier move by BlackRock

BlackRock’s proposed BTC ETF iShares Bitcoin Trust, was also found in the DTCC list with the ticker symbol IBTC.